GKN Sinter Metals Thriving in the APEG RegionOctober 15, 2018
GKN Sinter Metals, part of global engineering group GKN, is a fine example of a thriving company in the APEG region. GKN makes metal powder precision components for the automotive industry, specifically clutch pressure plates, gears and torque-converter components; and a new contract with Ford spurred an expansion in their Gallipolis production facility. (GKN was awarded two projects for Ford and the Gallipolis location was competing with other GKN facilities to produce the new technology.)
GKN Sinter Metals received tax credits and development grants valued at nearly $800,000 to assist with the Gallipolis project from various state and local agencies. APEG worked with JobsOhio and GKN was awarded a Job Creation Tax Credit and an Economic Development Grant with a combined worth of $380,000.
The Southern Ohio Agricultural and Community Development Foundation (SOACDF) also provided the company with a $350,000 development grant. Local incentives included a City of Gallipolis Job Creation Tax Credit and a Gallia County Community Improvement Corporation (CIC) Economic Development Grant with a total value of $60,000.
“The GKN project is a great model for the ability of the many partners in the region to join together in support of new investment and job creation. This project was highly competitive within the GKN system and the strong support from the state, regional and local entities brought the expansion project to Gallipolis,” said Katy Farber, APEG VP.
A$10 million project that included the installation of a new 750 metric-ton, powder-compaction press along with other capital equipment to launch production of differential-gear components was the result. The project added 50 full-time jobs and generated $20 million in additional sales for the company over the three years since the expansion.
Earlier this year, APEG and Gallia County Economic Development also helped connect the company with incumbent worker trainer funds to improve their current employee’s skill.
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